X Partners With MGM, Will Display Sports Betting Stats 01/30/2024

X, the company formerly known as Twitter, has partnered with MGMResorts’ sports-betting division BetMGM to display betting stats on the social media app. With the deal, there will also be links that will direct X users to the gambling platform so they canplace bets.

X is positioning itself to profit off of its position as the leading social platform for live events coverage during a time when major advertisers are leaving the platform and pausingcampaigns due to ongoing brand-safety issues.

Technically, X prohibits the promotion of gambling content unless it is included in “campaigns targeting specific countries where it isallowed with restrictions.” Therefore, X can show various betting odds connected to BetMGM links but will not be able to host any in-stream betting.

MGM --which is the third-most-popular sports gambling app behind DraftKings and FanDuel -- has been developing its tech company ties for a while now, solidifying partnerships with Yahoo and theYouTube-based show “Foul Territory.”

The new partnership with X will help its sports betting division reach an even wider audience of sports fans.

However,promoting gambling is unlikely to help X's reputation, which has been marred by policies enacted since billionaire Elon Musk's takeover in 2022.

Due to the rise of antisemitic contentappearing and being disseminated through the app, X's top advertisers have fled, leaving the platform's advertising revenue depleted by at least 50% since billionaire businessman, entrepreneur andinvestor Elon Musk took control.

The platform is currently under investigation by the European Union for failing to block illicit content and disinformation, among other allegations.

Sports betting has been a hotly debated topic in the United States since the Supreme Court struck down a federal ban on sports betting in 2018.

The decision resulted in 37 states, alongwith Washington D.C., deciding to legalize retail and online sports betting.

In 2024, many states are expected to revisit or revise legislation due to the inherently addictive nature of sportsbetting and the impacts of related advertising on younger audiences.

According to data aggregator BIA Advisory Services, the money spent advertising online gambling in local U.S. marketsincreased by 70% to $1.8 billion in 2022.

No other details have been revealed about X's deal with BetMGM, but regulators will likely be watching how the social platform approaches futuregambling promotions.